Stocks
BSEC Rules Out Immediate Floor Price Raise
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has stated that there is currently no consideration of raising the floor price on each share.
The Chairman clarified this information on Saturday (December 9). He affirmed that the floor price is set with the security of investors in mind. Recent reports speculating an increase in the minimum share price are considered baseless at the moment, and the Commission has not made any decision regarding raising the floor price.
Professor Shibli Rubayat-Ul-Islam further stated that transactions in the stock market are expected to increase after the upcoming twelfth National Parliament elections. With a more active economy, decisions regarding the floor price may be revisited at that time. However, as of now, there has been no decision from the Commission regarding an increase in the floor price.
It is noteworthy that the BSEC has implemented floor prices on shares three times in the last four years to safeguard investors and prevent market crashes. Although the floor price was first introduced in March 2020, it was enforced again in July 2021. The initiative proved effective as, on the very first day of the floor price’s enforcement, the Dhaka Stock Exchange (DSE) witnessed a significant rise in the main index, DSE X, gaining 153 points. Additionally, the market capitalization of the DSE increased by Tk 21 billion during the first week of the floor price implementation on July 31.
Dhaka Stock Market DSE, Bourse on the last working day of the week, 25th July, ended with a hike in Indices and Turnover from the previous working session. This information is known from DSE sources.
497 crore 34 lakh taka shares were traded on this day. 337 crore 97 lakh more tradings were done in DSE today compared to the previous workday, July 24th, Shares worth Tk 159 crores 37 lakh shares were traded last time, Wednesday.
The benchmark DSEX increased 62.81 points or 5,413 The Shariah-based index DSES added 13.81 points or 1,183 and the blue-chip index DS30 gained by 24.25 points or 1,932.
Of the issues traded, 286 advanced, 66 declined and 40 remained unchanged.
Techno Drugs Limited ranked top gainer on DSE, the share price increased by Tk 3.80 paisa or 9.87 percent. On this day, the share was last traded at Tk 42.30 paisa.
Rangpur Foundry Limited ranked top loser on the DSE, the share price dropped by Tk 5.40 paisa or 2.98 percent. On this day, the share was last traded at Tk 175.70 paisa.
DSE topped on trade is Square Pharmaceuticals PLC 35 crore 9 lakh takas of company shares have been traded.
A total of 28 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 82 lakh 94 thousand 29 shares of the companies were traded. The financial value of which is 21 crore 92 lakh taka
One of the listed companies, Eastland Insurance Company Limited discloses its financial reports for the second quarter, (April – June 24).
The company’s earnings per share (EPS) Tk 0.27 paisa in Q2 of the current financial year (April – June 24). EPS was Tk. 0.41 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. NAV per share was Tk. 20.85 as of June 30, 2024.
One of the listed companies, Shahjalal Islami Bank PLC discloses its financial reports for the second quarter, (April – June 24).
The company’s Consolidated earnings per share (EPS) Tk 1.50 paisa in Q2 of the current financial year (April – June 24). Consolidated EPS was Tk. 1.50 for January-June 2024 as against Tk. 1.47 for the same period last year. EPS was Tk 0.80 paisa during the same period last year. Consolidated NAV per share was Tk. 20.85 as of June 30, 2024.
